While buying a house is one of life’s milestones – it can be costly! Homebuyers worry about affording house deposits, mortgage applications and estate agent fees. Not only this but there is the added stress of stamp duty. 

Stamp Duty Land Tax (SDLT), the infamous tax payable on properties and land purchases in the UK, must be paid once a purchase is complete. Yet, it doesn’t quite end there for some people when it comes to stamp duty… 

Often, people overpay in stamp duty due to the many rules and possibly confusing exemptions and reliefs that exist. In such cases, people may be eligible to make a claim to HMRC for a stamp duty refund/rebate. This process, however, can seem daunting with no prior knowledge. Luckily, this guide explains how to claim back stamp duty by yourself

 

What Is a Stamp Duty Refund and How Can I Get One?

A stamp duty refund is money that you can reclaim from HMRC. When people initially pay their stamp duty tax, a land tax on properties and land worth over a certain value in the UK at certain rates, they may find themselves overpaying or eligible to reclaim. Some common examples can be found below: 

  • Second Homes: You may be eligible for a stamp duty refund if you bought your second home within 3 years of selling your main residence. In such cases, people can apply to HMRC for a stamp duty rebate and receive the 3% surcharge they initially paid on their second property.
  • Buy-to-Let Properties: If you bought a buy-to-let property and have now sold your other properties and it has become your main residence then you could also be entitled to claim back stamp duty. 
  • External Factors: Matters beyond homebuyers’ control, such as delayed sales due to the pandemic or interference from government authorities may mean buyers can reclaim some money back. 

Furthermore, those even going through a divorce are entitled to a second home stamp duty rebate, as long as their’s and their ex-partner’s main residence is sold within 3 years of buying their new homes. 

There are a variety of cases where you may be eligible. While an estate agent or a solicitor could be of help, contacting the experts like Stamp Duty Rebate can ensure your claim is successful. 

 

How Do I Apply for a Stamp Duty Refund By Myself? 

There are several methods you can use when applying for your stamp duty refund. Such as, through a solicitor or on your own behalf to HMRC. Both of which can be done online or via post. 

While you can claim back stamp duty on your own behalf, this may be a lengthy process and potentially confusing if you have never encountered the many stamp duty rules before. Though you may save some money doing it yourself, using a stamp duty rebate expert company will ensure you get the best outcome for your stamp duty refund. 

Estate agents and solicitors may be aware of stamp duty refund rules, however, they might not be completely up to date with the loopholes. Therefore, using a stamp duty rebate specialist company could ensure your money is reclaimed and the process is fast, easy and efficient. 

 

How Long Does a Stamp Duty Refund Take?

When applying for a stamp duty refund with HMRC, you will need to provide all the relevant information to ensure the process is done as soon as possible. Such as:

  • Your personal details e.g. name, address, contact details 
  • Property details e.g. its value, when it was bought and sold 
  • The amount of original stamp duty paid
  • How much you would like to claim back 

Provided you have supplied all the correct information for HMRC, then the stamp duty process should take no longer than 15 days. If the process takes longer, however, you will then be entitled to any interest on the late payment. 

On the other hand, HMRC is also entitled to extend the process in certain cases where they feel the information is incorrect or perhaps not enough is provided. 

If you are worried about the stamp duty refund process, then you can get in touch with us at Stamp Duty Rebate. We’d be happy to help either check if you’re eligible in the first place for a stamp duty refund, as well as do the process on your behalf. 

 

 When Should I Apply for a Stamp Duty Rebate? 

It is important to apply for your stamp duty rebate, whether doing it by yourself or through another option like a solicitor or a company, as soon as possible. While stamp duty rules are subject to change, it is advised that your claim is sent off as quickly as possible. 

For example, typically within 12 months of the filing date for the original stamp duty tax return. Nonetheless, HMRC does provide late exemptions in certain circumstances where you may be entitled to make your claim up to 4 years after the purchase date. 

If you would like to find out more about stamp duty rebates, whether you are eligible and how much money you may be able to get back from HMRC, then get in touch with us today at Stamp Duty Rebate. Alternatively, you can easily apply online by filling out one of our request forms which are easy to do and are sent instantly.